Cotton Association of India predicts increase in cotton consumption

The Cotton Association of India (CAI) has maintained that cotton crop for the 2016-17 season will be 341.00 lakh bales of 170 kgs each, the same as in the previous month. The apex trade body has however increased cotton consumption for the ongoing crop year to 295 lakh bales against its previous estimate of 290 lakh bales.

The projected balance sheet drawn by the CAI estimated total cotton supply for the cotton season 2016-17 at 405 lakh bales. Considering the domestic consumption of 295 lakh bales as stated above, total available surplus for the season works out to 110 lakh bales. The association did not give any estimate for cotton exports in 2016-17.

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The pace of arrivals has started picking up lately and is now approaching 2 lakh bales a day as the farmers are realising better price for their produce.